CommercialCOMMERCIAL & RESIDENTIALConservationFreeholdDistrict 12 · Novena

532 Balestier Road

Reviewed by Nathan TangUpdated 8 November 2026Data through Nov 2024

Quick Summary

532 Balestier Road is a commercial building in District 12 · Novena, on land zoned COMMERCIAL & RESIDENTIAL under the URA Master Plan with a gross plot ratio of 3.0. It is freehold. 2 transactions are on record since 1995, most recently in Nov 2024. 4 units are currently listed for sale or rent. ACRA records 0 live company registrations at this address.

The facts are here — now get the verdict on 532 Balestier Road.

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What are the key facts about 532 Balestier Road?

Key takeaway532 Balestier Road is a commercial building in District 12 · Novena, zoned COMMERCIAL & RESIDENTIAL, held freehold.

Asset class: Commercial
Land-use zone: COMMERCIAL & RESIDENTIAL
Gross plot ratio: 3.0
Tenure: Freehold
District / Area: District 12 · Novena
Address: 532 Balestier Road
Land area: —
Completed: Not on record
Storeys: 1 (© OpenStreetMap contributors)
Submarket: City Fringe
Listed as: Shop / Shophouse, Other Retail
Transactions on record: 2 (records start 1995)
Live listings: 4
ACRA registrations: 0

About 532 Balestier Road

532 Balestier Road is a commercial property in Novena (District 12). It is located along Balestier Road, Singapore 329859.

Under the URA Master Plan it sits on land zoned commercial & residential with a gross plot ratio of 3. The site falls within a conservation area, so external alterations are subject to URA conservation guidelines.

The site is freehold.

2 transactions have been recorded here, at a median of S$2,481 psf. The most recent was in November 2024.

The nearest MRT is Toa Payoh MRT, 688 m away (about a 11-minute walk). The closest bus stop (Opp EAIM) is 87 m away (about a 1-minute walk).

What is 532 Balestier Road zoned as?

Key takeaway532 Balestier Road sits on land zoned COMMERCIAL & RESIDENTIAL with a gross plot ratio of 3.0, with conservation status.

Land-use zone: COMMERCIAL & RESIDENTIAL
Gross plot ratio: 3.0
Conservation area: Balestier

Run the full zoning report for this building →

What has 532 Balestier Road sold for?

Key takeaway2 transactions are on record since 1995, most recently in Nov 2024 — too few to support a median, so the deals themselves are listed instead.

Date	Use	Price	Area	PSF
Nov 2024	Shop House	S$8.00M	2,428 sqft	$3,294
May 2016	Shop House	S$4.05M	2,428 sqft	$1,668

URA/JTC records from 1995 — that is where the record starts, not when the building was built. Strata and land deals can mix in one building's history; compare like with like. sqm ↔ sq ft converter

What does space at 532 Balestier Road rent for?

Key takeawayNo rent is published for 532 Balestier Road itself. On its street, Balestier Road, retail space rented at a median of $5.76 psf a month in 2026Q3, with the middle half of leases between $5.00 and $7.48. That is not this building's own rent, and never a quote for a particular unit.

Retail space on Balestier Road

Street level · 2026Q3

25th pct

$5.00

$53.83 psm

Median

$5.76

$61.96 psm

75th pct

$7.48

$80.47 psm

S$ per sq ft per month · median -36.4% on a year earlier

2023Q4 · $68.99 psm2026Q3 · $61.96 psm median

URA's percentiles of RETAIL rents (shop, F&B, entertainment, health & fitness) across every lease stamped with IRAS on this STREET in the quarter — the street's figure, not this building's rent and never a unit's. Retail rent swings with floor and frontage, so the spread matters as much as the median. A median needs at least 2 buildings and 3 contracts (percentiles need 4); a blank means below that threshold, not zero.

Source: URA rental statistics by street (IRAS-stamped contracts).

Office space on Balestier Road

Street level · 2026Q3

25th pct

$4.86

$52.33 psm

Median

$4.98

$53.57 psm

75th pct

$5.81

$62.49 psm

S$ per sq ft per month · median +11% on a year earlier

2023Q4 · $46.50 psm2026Q3 · $53.57 psm median

URA's percentiles of OFFICE rents across every lease stamped with IRAS on this STREET in the quarter — the street's figure, not this building's rent and never a unit's. URA publishes a median only where the street has at least 2 office buildings and 3 contracts that quarter (percentiles need 4); a blank means below that threshold, not zero.

Source: URA rental statistics by street (IRAS-stamped contracts).

Retail space — District 12 retail

Region band · 2026Q3

25th pct

$5.52

$59.42 psm

Median

$6.71

$72.22 psm

75th pct

$8.97

$96.57 psm

S$ per sq ft per month

A REGION BAND — URA's grid for the whole district or location, not this street or building. Say "across <district/location>, …", never that this building rents for it. The middle of URA's retail grid for District 12 across every floor and size band — a ground-floor shop and an upper-floor unit sit at very different points in it.

Source: URA REALIS retail rental analysis (district × floor × size grid).

Market context around 532 Balestier Road

Key takeawayBrokers' retail figures for this part of Singapore — a broker's market figure, not this building's rent.

CBRE, 2Q 2026 (island-wide)

Islandwide: Rent S$28.15 psf/mth

Singapore Figures Q2 2026

Cushman & Wakefield, 2Q 2026

Other City Areas: Rent S$21.21 psf/mth · Vacancy 7.4% (1Q 2026) · Planned / under construction 0.73m sq ft

Singapore Retail MarketBeat Q2 2026

Official series (URA, 2026Q3): Retail vacancy rate (Whole Island) 6.5 (-0.4 pp on the year) · Retail rental index (Central Region) 81.2 (+1.4% on the year).

Brokers draw submarkets and grades differently; each figure is the broker's own, for its own area, cited to its report. Rents are per square foot per month.

How fast units move at 532 Balestier Road

Key takeawayBased on listings we track, as of our last check on 28 Aug 2026: 1 unit for rent; 3 units for sale.

Rent: between 6 Aug 2026 and 28 Aug 2026, 0 new listings appeared and 0 came off (sold, let or withdrawn). Days on market: not enough history yet — we began tracking on 6 Aug 2026.

Sale: between 6 Aug 2026 and 28 Aug 2026, 0 new listings appeared and 0 came off (sold, let or withdrawn). Days on market: not enough history yet — we began tracking on 6 Aug 2026.

One count per unit, however many agents list it. Asking prices are not tracked over time, so price cuts are not shown.

What's been approved at 532 Balestier Road?

Key takeawayURA has approved 2 changes of use at 532 Balestier Road since 2000, most recently in 2024, and refused 1. This is the building's planning history, not today's approved use of any unit: confirm a unit's approved use with URA before signing.

F&B and nightlife here

URA does not approve new eating houses (restaurants, coffee shops, cafes) here; an existing one's permission may be renewed.

Per URA circular DC23-08, Appendix A (2 Oct 2023: no new eating houses in shophouses on listed stretches). A planning guideline for the area, not a decision on any unit; it applies to new eating houses and bars, not to one already approved.

18 Jun 2024Approved
Change of use to shop
Change of use of the 2nd storey to shop
22 Dec 2001Approved
Change of use to tyre and accessories showroom
Proposed change of use of car showroom to tyre and accessories showroom
15 Nov 2000Refused
Change of use to tyre and battery shop cum car air-con services
Retention of use of the 1st storey car showroom as tyre and battery shop cum car air-con services

Source: URA planning decisions (URA Data Service), matched to this building by address or land lot. A past approval can lapse (a temporary permission) and belongs to the unit it names. The authoritative approved use of a unit comes from URA's Enquiry on Approved Use of Premises (S$54.50 per unit).

How does Balestier Road price?

Key takeawayAcross 45 strata sales on Balestier Road in the last 5 years, the median is $2,070 psf.

Strata sales on the street (5y)

Street median PSF (strata)

$2,070

Street figures cover strata deals only — land and strata PSF are not comparable.

What do commercial rents run near 532 Balestier Road?

Key takeawayURA publishes contracted-rent percentile grids quarterly (latest: 2026Q3) — the benchmark evidence an asking rent should be weighed against.

Indicative area yield — District 12 retail

Gross yield (area)

2.9%

2.6% net of property tax

Rent side (median of bands)

$72.22 psm/mo

2026Q3

Price side (strata, 5y)

$2,767 psf

54 sales

An INDICATIVE AREA yield for District 12 retail — NOT this building's yield, and not any unit's. Commercial rents are published as a district percentile grid, so both halves describe the district.

Priced on STRATA sales only: rent is quoted per unit of lettable area, and commercial land PSF runs far above strata — mixing them would shift the ratio sharply.

Net deducts the 10% non-residential property tax ONLY — not vacancy, maintenance, agent fees, financing, or the 9% GST on purchase.

Retail rents — District 12 ($ psm/month, 2026Q3)

Floor level · size band	25th pct	Median	75th pct
Level 1 · 30 & Below	$52.08	$72.22	$91.29
Level 2 & 3 · 30 & Below	$101.58	$129.23	$143.22
Level 2 & 3 · >30 - 100	$59.42	$63.94	$96.57
Level 1 · >30 - 100	$74.07	$96.87	$116.31
Level 1 · >100 - 300	$48.14	$55.10	$60.66

URA REALIS rental-contract percentiles for the district/location — an area benchmark, not this building's own rents. Office and retail are dimensioned differently and are never mixed.

What is available at 532 Balestier Road right now?

Key takeaway4 units are currently listed at 532 Balestier Road — 3 for sale and 1 for rent. One row per unit; several agents often market the same unit.

For sale (3)

532 Balestier Road, 329859S$5.90M · 2,700 sqft
532 Balestier Road, 329859S$5.80M · 1,739 sqft
532 Balestier Road, 329859S$3.15M · 3,500 sqft

For rent (1)

532 Balestier Road, 329859S$20k/mo · 3,083 sqft

Browse every listing at this building →

What is near 532 Balestier Road?

Key takeawayThe nearest MRT/LRT is Toa Payoh MRT, about 688 m away — and 2 competing retail premisess operate nearby.

Getting around

Toa Payoh MRT688 m · ~11 min

Amenities nearby

Hotel · 42 mPlace Of Worship · 68 mEducational Institution · 77 mOpp EAIM · 87 mLivewell Medical Family Clinic · 103 mNovena Rise Pk · 387 mRen Ci Community Hospital · 430 mNovena MRT Exit A · 642 mToa Payoh West Community Club · 945 m

Competing premises nearby

Retail and F&B premises competing for the same footfall — context for an occupier, not a selling point.

NTUC Fairprice Co-operative Ltd · 103 mSquare 2 · 690 m

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at 532 Balestier Road

Key takeawayThe nearest station is Novena (NS20), 642 m away — one of the busiest stations, with about 85,000 taps in and out on an average weekday. 13 public car parks are within 500 m.

Foot traffic: busier than 50% of retail buildings

nearest MRT/LRT Novena (NS20) 642 m, about 85,000 taps a weekday; 1 more station within 1 km; bus stops within 400 m: 8, about 21,000 taps a weekday; Novena: 42,829 resident workers (Census 2020, by workplace); about 50,000 residents within 1 km (June 2026); 2 other malls within 1 km. Ranked against 12,856 retail buildings by PropKaki's model: a relative score, not a footfall count.

A relative score from PropKaki's model (station and bus taps nearby, workers and residents around, and competing malls), not a count of people.

Stations within 1 km

Novena (NS20)642 m · about 85,000 weekday taps
Toa Payoh (NS19)658 m · about 76,000 weekday taps

Taps are fare-card taps in and out at the station's gates on an average weekday (Jul 2026 to Sep 2026) — people passing through, not visitors to 532 Balestier Road. Transfers between lines don't tap, so interchanges read low.

Bus

8 bus stops within 400 m, with about 21,000 boardings and alightings on an average weekday.

Public car parks within 500 m

Blk 101 Jalan Dusun (HDB)205 m
S$0.60 per half-hour at midday on a weekday · 261 car lots
Shan Rd (URA)225 m
S$0.60 per half-hour at midday on a weekday · 11 car lots
Jln Dusun (URA)231 m
S$0.60 per half-hour at midday on a weekday · 24 car lots
Service Rd (Balestier Rd) (URA)300 m
S$0.60 per half-hour at midday on a weekday · 10 car lots
Blk 2 Balestier Road (HDB)327 m
S$0.60 per half-hour at midday on a weekday · 45 car lots

HDB season (car): Tier 1 $80/month (a resident's or registered HDB shop/industrial tenant's first car); Tier 2 (other cars, non-residents) $90 Rest of Island, $150 Designated Area, $165 Restricted Zone (surface). Which zone this car park is in is not published as data.

Nearest URA season parking: Balestier Road Area, 676 m away, S$90/month.

Public car parks only, by straight-line distance, with the operator's published rates. 532 Balestier Road's own car park, if it has one, and its charges are not in the open data.

Who's registered at 532 Balestier Road?

Key takeaway0 live companies (and LLPs and branches; sole proprietors are not counted) list 532 Balestier Road as their registered address. These are registered businesses, not who occupies the space.

Wholesale and retail trade
0
Transportation and storage
0
Construction
0
Professional, scientific and technical services
0

Registered businesses, not who occupies the space: companies, LLPs and branches whose REGISTERED address is this building (ACRA), by industry. Sole proprietors are not counted; no business is named. ACRA, as of 2026-09-16.

Frequently asked questions about 532 Balestier Road

Where is 532 Balestier Road?⌄

532 Balestier Road is at 532 Balestier Road, Singapore 329859, in the Novena planning area.

What is 532 Balestier Road zoned as?⌄

532 Balestier Road sits on land zoned commercial & residential under the URA Master Plan, with a gross plot ratio of 3.

What is the tenure of 532 Balestier Road?⌄

532 Balestier Road is freehold.

Is 532 Balestier Road a conserved property?⌄

Yes. 532 Balestier Road falls within a URA conservation area, so external works are subject to conservation guidelines.

What have units at 532 Balestier Road sold for?⌄

Across 2 recorded transactions, the median price is S$2,481 psf. The latest was in November 2024.

What is the nearest MRT station to 532 Balestier Road?⌄

Toa Payoh MRT is the closest, 688 m away (about a 11-minute walk).

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Read the figures right

Year of completion is not on record for this building. Building age cannot be stated.

Submarket: PropKaki's own map from URA's planning subzones (CBD core, City Hall / Bugis, Orchard, city fringe, regional centres, suburban). Brokers draw these lines differently.

Changes of use: URA planning approvals recorded at this building since 2000 (any unit; renewals of a temporary permission not counted). History only — Past approvals are not today's approved use; check with URA's approved-use enquiry before signing. Never say a use is allowed, permitted or approved for a unit, and never say a use would be approved.

F&B / nightlife: per URA circular DC23-08, Appendix A (2 Oct 2023: no new eating houses in shophouses on listed stretches). A planning guideline, not a decision on any unit.

Station taps: average weekday fare-card taps in and out at the nearest MRT/LRT station (LTA DataMall). People passing the station's gates, not people visiting this building.

Foot-traffic score: PropKaki's relative score from nearby MRT and bus taps, workers and residents around (and, for retail, competing malls), ranked against buildings of the same kind. A percentile, not a count of people.

Company REGISTRATIONS at this address (ACRA), not a tenancy schedule. Registration does not mean the company physically occupies space here, and a low count does not mean the building is empty. Do not describe this as occupancy or vacancy.

Unbuilt GFA cannot be computed here — it needs BCA built-GFA, which covers about 5% of commercial buildings and no industrial ones. Zoning and plot ratio are on record; headroom is not.

Storeys: from OpenStreetMap (© OpenStreetMap contributors), volunteer-mapped, not an official record. Shown only because no official or listed floor count is held for this building.

Reviewed by Nathan Tang

Nathan Tang has over 10 years of property experience across condominiums, HDB flats and commercial property, specialising in property research and finance.

Figures draw on URA and JTC records, URA Master Plan zoning, ACRA registrations and live commercial-portal listings; building facts from PropKaki's submarket map, URA planning decisions, URA circular DC23-08 (2 Oct 2023), HDB car park information (data.gov.sg), LTA DataMall passenger volumes, PropKaki's foot-traffic model, OpenStreetMap (© OpenStreetMap contributors) — see our methodology. Last updated 8 November 2026. For general information, not financial advice.

Getting there and parking: LTA DataMall passenger volumes and car parks, URA Data Service car park rates, HDB and JTC car park information (data.gov.sg) and HDB's published parking charges, Census of Population 2020 and the Singapore Department of Statistics' June 2026 resident population (Singapore Open Data Licence). The foot-traffic score is PropKaki's own relative model, not a count.

Market context: figures cited from CBRE Research (Singapore Figures) and Cushman & Wakefield (Singapore MarketBeat), each with its quarter and report; flexible-workspace centres from the operators' public location lists; collective sales from marketing agents' announcements and news reports, each linked.

Rents: URA rental statistics for office and retail space by street (IRAS-stamped contracts), JTC J-SPACE rentals by building and by street, JTC price tenders, and URA REALIS rental grids. SLA tender results and JTC posted land rents are held for state and JTC land.